Why Newfield Exploration (NFX) Stock Is Down Today

NEW YORK (TheStreet) -- Newfield Exploration (NFX) was falling -5.3% to $41.18 Wednesday after missing analysts' estimates for earnings in the second quarter, and despite announcing it will sell its Granite Wash assets.

The company reported earnings of 43 cents a share for the second quarter, missing the Capital IQ Consensus Estimate of 52 cents a share by 9 cents. Revenue grew 39.8% from the year-ago quarter to $608 million, above analysts' estimates of $582.6 million.

Newfield Exploration also announced it will sell its Granite Wash assets to Templar Energy for $588 million. The assets include 42,000 net acres which currently produce about 65 million cfe/day, about 60% of which is natural gas.

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TheStreet Ratings team rates NEWFIELD EXPLORATION CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate NEWFIELD EXPLORATION CO (NFX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

NFX ChartNFX data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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